CoinEX To Allocate Bitcoin Cash (BCH) To Customers

CoinEX is making plans to distribute Bitcoin Cash (BCH) tokens to its customers. This is according to the reports from a Reddit user on the Reddit BTC forum. The user, Kesh4n said that the cryptocurrency exchange platform is going to give out BCH to holders of its token, CET. To receive the BCH, you must have at least 10, 000 CET tokens. There are also certain rules surrounding the allocation of tokens into a corresponding account. It could be sent to a wallet that isn’t hosted on CoinEX.

The dividend will be up to 80% of all the monthly revenue of CoinEX. The remaining 20% of the revenue will be used for other developmental projects under the company’s name. The BCH will be allocated on a monthly basis. To qualify for the BCH tokens, a user also needs to have only released CET tokens. Mined tokens that are not released or issued will not be exchanged for Bitcoin Cash. Kesh wrote about the duration for crediting funds. In her words:

“As for dividend time, the company will allocate them within seven working days in the first week of every month. The last date may change depending on several factors including the financial settlement.”

Craig Wright Tries To Shutdown CoinEx

Not too long ago, one of the proponents of Bitcoin Cash, Craig Wright, tried to close down CoinEX, a subsidiary of Bitmain. Keep in mind that CoinEx is against the nChain protocol which is Wright’s idea. During the protocol split drama, Wright was provoked by a statement published by CoinEx. In the statement, CoinEx implied that Satoshi’s version, Bitcoin SV is not an accurate part of the Bitcoin Cash protocol. The Bitcoin Cash SV is the protocol being proposed by Wright and CoinEx stood against it claiming that it lacks some of the important features like the replay protection and so it will make the network vulnerable.

Bitcoin Cash Price Now

At the time of writing, Bitcoin Cash was trading at 532.94. This indicates a 2.39% rise against the USD and a 1.49% rise against Bitcoin. The trading volume over a 24 hour period is $498,620,851 while the total market capitalization is $9,260,607,006. This is according to the data on CoinMarketCapital.